Matthew,
I too have an Atomic 4.  Fortunately, it hasn't given me that kind of
trouble?
How many hours on the motor?  If there are a lot of hours, given that the
oil pressure gauge fluxuates, you might have a blown head gasket or a
cracked engine casing.  This would allow oil into the chambers, foul the
mixture, and cause the engine to lose compression.  If you can get a
compression gauge and check each cylinder, you might find the pressure in
one or more pistons is not up to specs (don't have the specs on me right
now).
It could be any number of issues but it does sound like oil is making it
into the cylinders, then out your exhaust system, hence the soot on the
transom!
My 2 cents worth!
Wade

On Sun, Jul 25, 2010 at 1:34 PM, Matthew <[email protected]> wrote:

>
>
> John,
> It's a gas Atomic 4.
>
> --- In [email protected] <IC27A%40yahoogroups.com>, "The Emmerichs"
> <j...@...> wrote:
> >
> > Gas or diesel?
> >
> >
> >
> > John Emmerich
> >
> >
> >
> > From: [email protected] <IC27A%40yahoogroups.com> [mailto:
> [email protected] <IC27A%40yahoogroups.com>] On Behalf Of
> > Matthew
> > Sent: Sunday, July 25, 2010 5:04 PM
> > To: [email protected] <IC27A%40yahoogroups.com>
> > Subject: [IC27A] Engine Trouble
> >
> >
> >
> >
> >
> > After running my engine for a long time last week it just up and died.
> There
> > weren't any signs of trouble, no noises, no major temperature issues (it
> ran
> > all day at around 155-160). The only thing that seemed abnormal was the
> oil
> > gauge that kept jumping between 0-80. When we finally got towed back into
> > the marina there was a lot of black soot collected on the starboard side
> of
> > the transom. The engine has oil and gas and when I try to start it up it
> > wants to turn over but can't seem to get there. Any ideas?
> >
> > Thanks,
> > Matthew
> >
>
> 
>

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